[GSlob]

SAVED MONEY: All dollars that are post-tax savings would be devalued by the FairTax inflation by 20% in terms of what they can buy with their hard-earned and saved money.
Include in it the capital cost basis of every taxable investment in existence [a savings account is an investment of sorts], Roths etc. "Fair tax" is the double taxation fraud.

[HitmanLV]

SAVED MONEY: All dollars that are post-tax savings would be devalued by the FairTax inflation by 20% in terms of what they can buy with their hard-earned and saved money.

This is my main hangup with the Fair Tax and have yet to see it really addressed. It's very clear to anyone who looks at it clearly can see the problem with post tax savings.

Whenever I raise this on FR, I am consistently told that I don't understand, that I am missing something, etc. No real attempt to explain this problem, though.

One advocate of the FT on FR a few weeks ago was honest and point blank said that it would just be a bullet that people would have to bear. I have no interest in taking that bullet, but at least he was honest and direct about it. KUDOS to that Freeper (who's name escapes me, sorry)!

[pigdog]

Not at all, sGlob, and we've been trhough this with you before including a link to a post that shows this to be not the story at all.

Present savings will pay taxes in the form of embedded taxes when used to buy presently plus any income tax laid upon such savings by Congress in the meantime due to constant tinkering which is quite easy under the present system.

With the FairTax there is no tax on income and any saved funds can be invested and increase tax free. they are only taxed when spent for consumption of taxable items - and not everything is taxed. In addition, the effective tax rate is less - in many cases much less - than the marginal FairTax rate due to the prebate.